Townhouse Starts Indicate Sturdy Market | #TownHousesStrong #TalkToYourAgent #SiliconValleyAgent #YajneshRai #YourAgentMatters


Townhouse Starts Indicate Sturdy Market | Realtor Magazine

Townhouse construction continues to post gains. Over 2017, townhome starts totaled 104,000, a 7 percent increase over 2016, according to an analysis of U.S. Census Bureau data by the National Association of Home Builders.

Further, townhouses or single-family attached housing numbered 29,000 of the starts during the fourth quarter of 2017, which is 21 percent higher than a year ago.

The market share of new townhouses accounts for 12.4 percent of all single-family housing starts. For comparison, over the past two decades, townhouse construction peaked in the first quarter of 2008 at 14.6 percent of total single-family construction.

“After a soft patch, the market share is rising again,” Robert Dietz, chief economist of the NAHB, notes on its Eye on Housing blog. “I expect future gains as townhouses are a useful bridge from rentership from homeownership for younger prospective home buyers in high-cost markets, among other market opportunities. … The long-run prospects for townhouse construction are positive given large numbers of home buyers looking for medium density residential neighborhoods, such as urban villages that offer walkable environments and other amenities.”


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